Presentation

This class presents the main dimensions of country risk analysis, which is a practice based on approaches combining several disciplines: economics, law, political science, international relations. The class begins with a historical overview of the progressive institutionalization and professionalization of this approach. It then discusses the concept of sovereign risk, which is at the foundation of the notion of country risk, then examines the tools available to analysts (rating, indices, and ranking) through different examples (political risk, corruption, sovereign and financial risk, etc.). Finally, it discusses the need to link these dimensions when compiling a country risk assessment.

Recommended Prerequisite(s)

Participants in this class must have good knowledge in international economics and of the basic concepts and mechanisms at work in the international financial system. Good command of simple economic mechanisms is also essential for understanding the structural analysis of an economy.

Form of assessment

The number of ECTS credits and the assessment methods are likely to be different for students in credit exchange programmes.

Bibliography

• Bouchet M.H., Clark E., Groslambert B., Country Risk Assessment, Wiley Finance, Cornwall, UK, 2003 (disponible en ligne).
• Meunier N., Sollogoub T., Économie du risque-pays, Paris, La Découverte, 2005.
• Gautrieaud, S., Le risque pays : approche conceptuelle et approche pratique, Centre d’économie du développement, Université Montesquieu Bordeaux IV, 2002, 31 p. – COT E5.204 Rapports annuels du MOCI et de la COFACE.